EVALUATING DIGITAL CUSTOMER IDENTITY STRATEGIES IN BANKING: A CONSIDERATION OF THE RISKS AND BENEFITS IS IMPERATIVE

Abstract

In the context of globalisation, all sectors of economic activity have undergone significant transformations, and the banking sector is no exception to this phenomenon. It is evident that commercial banks across the globe are experiencing a period of digital transformation, with varying degrees of intensity. However, in the near term, most of these institutions are likely to have to adapt to these changes. Failure to do so may result in the erosion of their competitive advantage, as consumer expectations are subject to constant evolution in conjunction with ongoing technological advancements. In the contemporary context, customers are increasingly seeking banking services that are both expeditious and remote, and which provide prompt feedback.